Fenwick Represents Fidelity in Lime’s $523 Million Financing Raise

Fenwick represented Fidelity Management & Research Company, the investment advisor to Fidelity's family of mutual funds, in leading an oversubscribed round of $523 million in a mix of convertible debt and debt financing in Lime, a shared electric micromobility company.

Fidelity, Abu Dhabi Growth Fund, Uber and certain funds managed by Highbridge Capital Management participated in the round, as did UBS O’Connor.

The raise is the next step on the company’s path to going public in 2022. Lime will use the capital to invest in its decarbonization efforts, refresh a significant portion of its fleet with its Gen4 e-bikes and e-scooters, scale into more cities and develop new technologies. More information can be obtained from the Lime's announcement.

The Fenwick transaction team included corporate partner Michael Brown and partner-elect Jordan Roberts.